The new area of operation, the public sector undertaking has set its sights on is financing of multiple complexes comprising multi-screen cinema theatre, exhibition hall, amusement parks, hotel and restaurants.

Initially, the corporation has funded two projects worth Rs 42 crore in Maharashtra and Gujarat. "The corporation has targeted new areas since several states like Maharashtra and Gujarat treat these type of projects as tourism units and extend exemptions from sales tax, turnover tax, electricity duty, entertainment and luxury tax for period ranging between 5 to 10 years." managing director of TFCI, M Naryanan told The Financial Express in an interview.

The exemption some time may be given upto 100 per cent of the capital investment, Naryanan added.

Of the projects financed by the corporation one is atPune and another at Gandhinagar in Gujarat.

The Pune multiple project, estimated to cost Rs 28 crore will host four cinema halls with a seating capacity of 1,450 persons, one exhibition hall, exclusive food and beverage areas, indoor amusement centre having bowling alley, pool tables, video-games arcade, shopping mall along with a 26 room 3-star hotel, he said. Naryanan said, the Gandhinagar project to be built at a cost of Rs 14 crore comprises three cinema halls, with a seating capacity of 1,550, extensive food and beverage place, amusement centre having bowling alley, go-carting, fun park for children and video game arcade.